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CTS Engines Announces $25 Million Capital Expansion Program

Dépèche transmise le 7 novembre 2011 par Business Wire

FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--CTS Engines, a leading, independent jet engine Maintenance, Repair, and Overhaul (“MRO”) facility, today announced the implementation of a $25 million capital expansion program. The investment, which will be provided by parent company Neff Capital Management LLC, is expected to greatly increase both the size and scope of the company’s on-site MRO capabilities over the coming year.

“We continue to see strong demand by operators and lessors alike for a world class, full-service, independent MRO in the Western Hemisphere. These customers want quality, value, and customer service from their MRO partner, and CTS Engines fills that role.”

“With this investment, CTS Engines’s in-house repair capabilities will be dramatically enhanced,” said Konrad J. Walter, CTS Engines’s President & COO. “We continue to see strong demand by operators and lessors alike for a world class, full-service, independent MRO in the Western Hemisphere. These customers want quality, value, and customer service from their MRO partner, and CTS Engines fills that role.”

The capital expansion program includes the opening of a second, 60,000 square foot facility co-located in Ft. Lauderdale, the acquisition of additional tooling and machinery, including a high-speed blade tip grinder and a vertical machine center, and the building of two high thrust engine test cells in Palm Beach County, Florida. Additional capital has been allocated for the purchase of dedicated spares to support the company’s base MRO business.

Founded in 2003, CTS Engines is a full service jet engine MRO focused on the overhaul of the GE CF6 family of engines. Please visit www.ctsengines.com for more information.